To offset economic pressures and generate returns required to drive greater earnings, which will fuel future loan growth, portfolio managers are aggressively expanding their policies and practices to drill more deeply and frequently into their portfolios by identifying those members where relationships can be expanded and conversely identify those which are accelerating debt and stress.

To do that, a growing number of lenders are finding that it pays to look not only at a score or snapshot of a consumer profile, but take into consideration the magnitude and direction of change as well as frequency of review on all obligations and beyond the obligations they manage.

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A record 12,788 lawsuits were filed in 2011 against accounts receivable management companies for regulatory violations, with the majority related to the Fair Debt Collection Practices Act. This year began with increased concern from the collection industry as the Consumer Financial Protection Bureau (CFPB) shows heightened interest in debt collectors.

With this increased scrutiny, collection companies are under the microscope even more than before. Companies face potential litigation, fines and negative publicity if they attempt to collect on past-due consumers without proper handling. It’s now critical to identify accounts with a protected status before making collection efforts, in order to minimize legal risk and optimize your resources.

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Being able to streamline the process and proactively match the right consumers to the right products will reduce acquisition costs. Consumers also benefit because it has no impact on their credit score.

Clients tell us the number one reason people abandon online applications is because they are worried they’ll be declined. What if you alleviate this concern by matching consumers to the product that best fits their credit profile at the start of the shopping process, greatly improving their chances of approval when they apply?

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